<a href="https://www.mid-day.com/business/business-news/article/hyundai-motor-group-to-invest-usd-155-billion-in-india-by-2032-says-india-key-driver-for-growth-23654971" target="_blank" rel="none noopener">South Korean auto major Hyundai Group</a> on Wednesday said it will invest an additional Rs 4,000 crore in Maharashtra by 2030, and targets to nearly double capacity at its new Pune manufacturing plant to 320,000 units per annum in a phased manner, according to news agency PTI.
The auto major has already invested Rs 7,000 crore in the Pune facility, Hyundai Motor India (HMI) CEO and Managing Director Tarun Garg said.
The Pune plant, which has a manufacturing capacity of 170,000 units, was officially launched by Maharashtra Chief Minister Devendra Fadnavis along with his deputy chief minister Sunetra Pawar, state transport minister Uday Samant, and top Hyundai Group executives.&nbsp;
Combined with its Chennai operations, Hyundai Motor India's total manufacturing capacity will reach nearly 1.14 million units annually by 2030.
Hyundai Motor Group (HMG) on Tuesday had said India is key market driving future growth and expansion across emerging markets and had committed an investment of USD 15.5 billion by 2032.
"So Rs 4,000 crore definitely will be invested in Maharashtra out of this (USD 15.5 billion) investment. We are looking at much beyond mobility through this investment ... Rs 7,000 crore has already been invested in Maharashtra. This is a direct investment by Hyundai into Maharashtra," Garg said.
Besides, HMI vendors have invested Rs 4,600 crore in Maharashtra, which is an additional investment they have made, he said.
<h2>Hyundai pushing for localisation</h2>
"Maharashtra is going to play a very important role. We are looking at Pune to really provide a great fillip to our plants in India. Also, the Maharashtra ecosystem gives us an opportunity to localise further from 83 per cent to 92 per cent is what we are aiming for, " he said.
Garg stating that the company is localising the entire battery pack supply chain, while power electronics are already being sourced locally.
Beyond manufacturing, the automaker said it is committed to contributing to India's future through innovation, research, electrification and talent development.
"Beyond <a href="https://www.mid-day.com/business/business-news/article/maruti-suzuki-chairman-without-gst-20-indian-economy-may-not-have-navigated-west-asia-crisis-23647598" target="_blank" rel="none noopener">expanding manufacturing capacity,</a> the (Pune) facility will drive industrial development, innovation and employment generation in the region. Supporting this vision is a strong regional supplier ecosystem, with 55 supplier partners having already invested nearly Rs 4,600 crore in the state. Together with tier-II vendors, the ecosystem has created more than 18,000 employment opportunities in Maharashtra, reinforcing the region's emergence as a key automotive manufacturing hub," Garg said.
<h2>HMI looks to regain market share</h2>
The accelerated investment in India will allow HMI to boost its market share in the country led by new launches.
"So we are having a multi-pronged approach. Today you saw the capacity addition. As you know, we are going to launch 26 new models to marry this capacity so that we can get back the market share as well," Garg said.
<a href="https://www.mid-day.com/business/business-news/article/hyundai-motor-reports-highest-ever-monthly-sales-of-77916-units-in-september-23652820" target="_blank" rel="none noopener">In terms of vehicle sales, HMI</a> slipped to the fourth position in the previous financial year, after being in the second spot.
<h2>Sustainable vehicles</h2>
Garg said the company is developing the EV ecosystem through investments and plans to roll out new cars in the alternative fuel segment by 2029.&nbsp;
"We are investing a lot in the entire EV ecosystem. So not only will we have four EVs by 2029, but we will also be investing in the charging infrastructure," he said.
Hyundai has already announced plans to introduce hybrid models, aiming to ensure that 50 per cent of its portfolio comprises sustainable vehicles by 2030.
<h2>India as a export hub</h2>
"On the export side, we are the number one company in India to reach 4 million export landmark. But we are still not satisfied. We want to increase further. So I think that is the second thing which we are going to do," Garg said.
The company is cumulatively the largest exporter of passenger vehicles and the first automobile manufacturer to achieve 4 million exports from India, according to PTI. It also sold nearly 10 million passenger vehicles in the domestic market.
"India remains one of Hyundai's most important and strategic markets. The inauguration of the Pune plant reflects our long-term commitment to India's growth and our confidence in its bright future. HMI's milestone of 4 million cumulative vehicle exports demonstrates the global competitiveness of Indian manufacturing and highlights India's growing role within Hyundai Motor Group's worldwide operations," Euisun Chung, Executive Chair - HMG said.
(With input from PTI)

Hyundai Motor India has already invested Rs 7,000 crore in the Pune facility. The plant has a manufacturing capacity of 170,000 units at present

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